Growth In The Time Of Disruption
The world has undergone a tremendous change in the past two years. There has hardly been any business untouched by the pandemic. While this has led to stagnation and qualms regarding the future of industry on one hand, on the other, it has led the businesses to introspect and reassess their strategies. Adaptability to change is the most important divisor separating successful enterprises from the others.
In fact, it is now established that such disruption has actually led to an acceleration of growth in selected companies which recognized this as an opportunity to implement innovative solutions. For example, unique challenges for the manufacturing industry in healthcare came in terms of time-limited manufacturing of life-saving equipment such as ventilators. As the demand for PPE kits and oxygen concentrators sky-rocketed, there was a continuous pressure on the industry and the supply chain units to keep up and rise to the occasion. There is now an awareness and a renewed curiosity about the needs of health-care systems. It would be appropriate to say that disruption and transformation go hand in hand.
Disruption can arise in the form of a pandemic, supply-chain issue, natural calamity or even riots or war. What is the best way to make our organizations disruption-proof and still grow while at it? The impetus to create more resilient and adaptable business models has given rise to an urgency in implementing digital transformation of processes and units. Virtual streamlining of the processes can take the load off from the dependency on human resource or on physical presence for quality control and can lead to greater accuracy and adherence to standards. It thus leads to an improvement in the operating efficiency and is a pre-requisite for having standardized processes. On the front-end, it leads to a better customer experience and ultimately growth in market share. It is pertinent to note that digital transformation in not an end in itself but a move to stay relevant and competitive in today’s fast paced and disruptive but also a virtually connected world.
In order to successfully digitally transform, a sustained effort and execution is crucial. Prior to this, a strong strategy to focus on how and where the transformation is most required in the process flow has to be formulated. Gradually, the transformation can extend to all areas to improve infrastructure, drive productivity and enhance customer experience. Implementation of digital transformation might be challenging at the beginning but an adaptive mindset, formulation of clear goals and building ecosystem-based partnerships can help smoothen the process and bring rich rewards in the long run.
YuDash aspires to be the preferred partner for digital transformation of Indian manufacturing fraternity. To know about our product YuFourIA, have a look at the video.